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About our transaction
- The Bonds financed new graduate housing in San Francisco.
- The non-rated Bonds had both senior and subordinate series.
- Over $1.1 billion of orders during the early months of the pandemic showed the strength of the RJ sales team.
About our transaction
- The Bonds were issued to refund prior obligations for savings.
- RJ was able to generate $2.4 billion in orders, resulting in oversubscriptions of over 22 times.
- Over 70 accounts placed orders. Yields were lowered in every maturity including up to 22 basis points on the long end.
About our transaction
- The Bonds received a sub-investment grade rating of Ba2.
- RJ worked diligently to ensure that investors were comfortable with the rating and project in order to broaden the investor base.
- RJ had a successful pricing that resulted in a TIC of 1.82%.
About our transaction
- RJ believed the University was a better credit than Moody’s provided and helped draft materials for an on campus credit assessment with S&P.
- After receiving higher ratings, the Bonds priced in a volatile market.
- RJ underwrote the $7.91 million in balances with no impact to the borrowing cost.
About our transaction
- RJ used tax-exempt bonds to finance the first housing on the campus of Keck Graduate Institute, one of the Claremont Colleges.
- With a Ba2 rating, RJ led investor site visits to generate significant demand when the bonds were sold.
- The Series 2017 Bonds have a TIC of 4.71%.
About our transaction
- RJ worked diligently during the marketing period to educate potential investors. Given the complexity of the credit, RJ utilized a pre-recorded investor presentation that was well-received by investors.
- RJ was able to generate over $440 million in orders from over 50 accounts, which allowed yields to be lowered and the University to realize 13.9% present value savings.
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About our transaction
- The Series 2015 Bonds financed one of the largest privatized student housing projects in the country.
- RJ helped achieve a financing that would allow the project to be self-supporting.
- Both tax-exempt and taxable bonds were brought to market. The sale was largely oversubscribed, which allowed RJ to lower yields, resulting in a TIC of 4.82%.
About our transaction
- Bowles Hall originally opened in 1929 as the first residential college in the U.S. The Bowles Hall Foundation was formed to purchase and renovate the housing.
- After an ad campaign to reach potential retail investors, the bond sale was largely oversubscribed, resulting in a TIC of 4.60% with a 2050 final maturity.
About our transaction
- This is the only housing on the Biscayne Bay campus of Florida International University.
- RJ assisted in the rating process and led the preparation of a comprehensive POS as well as an investor presentation to help explain the structure and credit to potential investors.
- The Series 2015 Bonds carried a final maturity that extended to 2048 with a TIC of 4.69%.
About our transaction
- Private Placement that refinanced the construction financing for a 572-bed project near Johns Hopkins Medical Center in East Baltimore.
- The financing consists of a combination of fixed and variable rate debt and was placed with two investors with an overall borrowing cost of 5.19%.
About our transaction
- RJ served as the sole underwriter for two phases of the University’s housing projects in 2008 and 2013.
- RJ showed flexibility in underwriting variable rate demand bonds for Phase I and fixed rate bonds for Phase II; both transactions resulted in a TIC below 4%.
- RJ showed its dedication to the University by underwriting $3 million of unsold bonds in 2013.
About our transaction
- RJ was underwriter on four bond issues over four years, using a variety of structures, for the construction of 3,548 beds on the campus of Indiana University of Pennsylvania.
- The University replaced nearly every bed on campus, leading to increased enrollment and retention.
- RJ has since refinanced several phases to lower the debt service.
